KUALA LUMPUR: Over the recent past quarter, Genting Bhd faced challenges in returning to profitability as it was dragged by Resorts World Genting (RWG) and Resorts World Las Vegas (RWLV). However, the outlook on both properties for the subsequent quarters is looking brighter. However, the research firm maintained its "buy" call and revised its target price higher to RM6.50 on upgrades to subsidiaries Genting Malaysia and Genting Plantations. In the coming quarters, HLIB expects the group's earnings to be supported by a recovery in its leisure and hospitality segment, a lower share of losses from its joint ventures and sustained high crude palm oil and oil prices. "Furthermore, Genting provides an exposure to RWLV which we believe will have a strong growth potential in the longer term," it said.
